Compared to 2012, the average price of properties in Canada rose by 9.8 percent in 2013, but sales have not picked up. These statistics were made available by the Canadian Real Estate Association (CREA) and cited in a report filed by The Property Wire.com.
CREA estimates the national average price for homes that were sold in November of this year at $391,085. While the sales activities in Canada’s more expensive cities slowed down, other property prices were steady or saw a small increase.
One-storey single-family homes enjoyed a 4.88 perent growth. This was followed by the increase of sales of two-storey homes that also catered to single families, this time at 4.59 percent. The sales of town houses nd terraced houses grew by 3. 13 percent while apartments saw a rise in sales activity by 2.46 percent.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate